FeaturedMarket Update

Nigerian Equities Market Closed Green Despite Low Momentum

Consolidating recovery moves, equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the positive territory, as NSEASI added 16Bpts and closed at 27,035.78 from 26,991.42. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead activities index is 16Bpts to into the green zone, while the total gained points in the month of November is now 258Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N21.410 billion, same as 16Bpts above the opening value.  Meanwhile, trading activities for the day produced 20 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 1,398Bpts while the Market Capitalization Year to Date gain stood at N1.328 trillion same as 1,133Bpts above the year’s opening value.

Leading on the advancers’ log is Law Union with 10.00% price appreciation that closed its price at N0.66 from N0.60. JaizBank followed closely with 9.52% to close at N0.69 from N0.63. Completing the top price percentage gainers’ log are; Presco, Neimeth and Cadbury with 9.39%, 8.93% and 8.89% respectively.

Okomu Oil led the decliners’ log with 9.73% as it rounded up trade at N49.65 against N55.00. Please note that total volume traded on Okomu is 720,034 units. Cutix traded 1.653 million units of its shares to follow on the log with 9.52% loss. FBNH, Cornerstone Insurance and Livestock Feeds completed the log with 7.33%, 7.14% and 5.66% respectively.

Although the market had spent four consecutive days in the positive region, momentum remained low, especially when compared to the long bearish session experienced in the past. Nevertheless, we maintained that traders should take advantage of loads of low priced equities, using the nine months earnings as guide. In other words, possibilities of year end incentives should be strictly considered.

As at the time this report was gathered, Brent Crude sells at 63.64$/bbl, this is 1Bpts below the previous close price.

The I&E FX Window opened at N362.30 traded as high as N363.00 before rounding up at N362.58, having transacted a total of $106.83 million through the day. Please note that, margin between the close and open value is 2Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-rates.

In the money market, the Overnight (O/N) rate closed at 4.36%, same as 0.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.71%, that is, 00.00% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

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FeaturedMarket Update

Nigerian Equities Market Closed Green Despite Low Momentum

Consolidating recovery moves, equities trading on the floor of The Nigerian Stock Exchange rounded up the first trading day of the week in the positive territory, as NSEASI added 16Bpts and closed at 27,035.78 from 26,991.42. It was a mixed performance amongst the observed market indices as shown in the index movement table. Thus, Week to Date, the lead activities index is 16Bpts to into the green zone, while the total gained points in the month of November is now 258Bpts. See the index movement table for details.

Value gained by the Market Capitalization of the listed equities during today’s trading activities was N21.410 billion, same as 16Bpts above the opening value.  Meanwhile, trading activities for the day produced 20 ADVANCERS and 16 LAGERS. NSEASI Year to Date loss is now 1,398Bpts while the Market Capitalization Year to Date gain stood at N1.328 trillion same as 1,133Bpts above the year’s opening value.

Leading on the advancers’ log is Law Union with 10.00% price appreciation that closed its price at N0.66 from N0.60. JaizBank followed closely with 9.52% to close at N0.69 from N0.63. Completing the top price percentage gainers’ log are; Presco, Neimeth and Cadbury with 9.39%, 8.93% and 8.89% respectively.

Okomu Oil led the decliners’ log with 9.73% as it rounded up trade at N49.65 against N55.00. Please note that total volume traded on Okomu is 720,034 units. Cutix traded 1.653 million units of its shares to follow on the log with 9.52% loss. FBNH, Cornerstone Insurance and Livestock Feeds completed the log with 7.33%, 7.14% and 5.66% respectively.

Although the market had spent four consecutive days in the positive region, momentum remained low, especially when compared to the long bearish session experienced in the past. Nevertheless, we maintained that traders should take advantage of loads of low priced equities, using the nine months earnings as guide. In other words, possibilities of year end incentives should be strictly considered.

As at the time this report was gathered, Brent Crude sells at 63.64$/bbl, this is 1Bpts below the previous close price.

The I&E FX Window opened at N362.30 traded as high as N363.00 before rounding up at N362.58, having transacted a total of $106.83 million through the day. Please note that, margin between the close and open value is 2Bpts loss. We are of the opinion that the FX-Market will trade within same range tomorrow. See below table for Lagos BDC Fx-rates.

In the money market, the Overnight (O/N) rate closed at 4.36%, same as 0.07% below the previous closing position. Meanwhile, Open Buy-Back (OBB) rate ended at 3.71%, that is, 00.00% below the previous close. We are of the opinion that the money market will maintain this range on the next business day. Safe Trade.

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